Source: Gouvernement de la Nouvelle-Caledonie
Les fortes pluies de ces derniers jours, et celles attendues dans les prochains jours, favorisent deux risques sanitaires bien connus : la dengue, via l’augmentation des moustiques, et la leptospirose, via l’exposition accrue à des eaux et boues potentiellement contaminées. Le gouvernement de la Nouvelle-Calédonie, via sa direction des Affaires sanitaires et sociales (DASS), appelle à la vigilance et rappelle les conduites à tenir.
Source: Republic of China Taiwan
In line with the “Greater Southern New Silicon Valley” initiative and the Asia Bay 2.0 Smart Tech Innovation Park policy, the Bureau of Industrial Parks (BIP), the Ministry of Economic Affairs (MOEA) held a topping-out ceremony on January 19 for the Asia Bay Smart Technology Building, a key development within the Kaohsiung Software Park Phase II. The project represents an investment of NT$2.6 billion by the BIP. Located on parcel A along the waterfront of the Asia New Bay Area, the building is a steel structure with three basement level and eleven above-ground floors, providing more than 33,000 square meters of industrial space. It is designed to integrate co-creation and proof-of-concept facilities with commercial and lifestyle functions. Scheduled for completion in November 2026, the building is expected to attract over 30 enterprises, create 840 jobs, and generate an estimated annual output value of NT$1.7 billion, further expanding the 5G AIoT industrial cluster and employment opportunities in southern Taiwan.
Chih-Ching Yang, the Director General of the BIP, stated that the topping-out of the Asia Bay Smart Technology Building marks a significant milestone in park development. Beyond demonstrating steady construction progress, it also symbolizes Kaohsiung’s smart industry cluster entering its next stage of growth. Looking ahead, BIP will integrate industrial and science park resources across Chiayi, Tainan, Kaohsiung, and Pingtung to build the southern core of the semiconductor S-Corridor. MOEA will also work with closely with the Kaohsiung City Government to actively promote investment and create an ideal environment for industrial innovation and youth employment.
As the original Kaohsiung Software Park has reached near-full capacity, the Executive Yuan approved an expansion plan in 2021. Under this plan, BIP is developing 2.45 hectares of land north of Phase I, formerly owned by BIP Corporation, Taiwan, to establish Phase II of the park. The expanded area is divided into Parcels A, B, and C for investment promotion. The Asia Bay Smart Technology Building, located on Parcel A, is the first building to break ground. Steel structure installation has been completed, with construction scheduled to finish in November 2026 and occupancy expected in the third quarter of 2027. Investment promotion for Parcels B and C is also underway to attract additional smart application and emerging industry enterprises.
With construction progressing steadily and investment promotion gaining momentum, the Asia Bay Smart Technology Building is set to become a landmark project for the upgrading of smart industries in southern Taiwan. It will serve as a pivotal hub linking the semiconductor and AIoT industries, support the implementation of national innovation strategies, and create a new engine for economic growth in Kaohsiung. BIP emphasized that it will continue to advance public infrastructure and industrial development with high efficiency, working hand in hand with local governments and industry to build a major technology industry cluster in southern Taiwan.
Spokesman: Mr. Liu Chi-Chuan (Deputy Director General, BIP)
Contact Number: 886-7-3613349, 0911363680
Email: lcc12@bip.gov.tw
Contact Person: Yu, Shu-Hui (Director of Kaohsiung-Pingtung Branch, BIP)
Contact Number: 886-7-823-9301
Email: yush@bip.gov.tw
Source: Hong Kong Government special administrative region
The Financial Secretary, Mr Paul Chan; the Secretary for Financial Services and the Treasury, Mr Christopher Hui; the Permanent Secretary for Financial Services and the Treasury (Treasury), Mr Andrew Lai; and the Government Economist, Ms Irina Fan, held a press conference on the Budget at Central Government Offices, Tamar, today (February 25). Following are the remarks by Mr Chan:
Reporter: Good afternoon, Mr Chan, some English questions. Firstly, the Government has ruled out using the Exchange Fund in 2021, warning of severe consequences at the time. Could you explain why the Government thinks it’s okay to use the Exchange Fund now? And also, what are the potential risks you see in making this move, and could you also explain the Government’s motivation in streamlining the Government’s various funds in this Budget? Secondly, on tax policy, the Government said they will set up a committee chaired by you to review Hong Kong’s tax policy. What is the Government’s direction in this committee? And are you planning to increase the tax base? And if so, could you give some specifics on how you’re going to go about it? Thank you.
Source: Hong Kong Government special administrative region
Tax measures proposed in 2026-27 Budget
The measure will reduce the amount of tax payable by taxpayers for the year of assessment 2025/26. Taxpayers only need to file their profits tax returns and tax returns for individuals for the year of assessment 2025/26 as usual. Upon enactment of the relevant legislation, the Inland Revenue Department will effect the reduction in the final assessment. The reduction will only be applicable to the final tax for the year of assessment 2025/26, but not to the provisional tax of the same year. Taxpayers should pay the provisional tax on time as stipulated in the demand notes that have been issued to them. The provisional tax paid will be applied in payment of the final tax for the year of assessment 2025/26 and the provisional tax for the year of assessment 2026/27. The excess balance, if any, will be refunded.
The reduction is not applicable to property tax. Nevertheless, eligible individuals with rental income may enjoy such a reduction under personal assessment.
A taxpayer who is separately chargeable to salaries tax and profits tax can enjoy tax reduction under both tax types. A taxpayer having business profits or rental income may elect for personal assessment in their tax returns for individuals for the year of assessment 2025/26. The reduction will then be calculated based on the tax payable under personal assessment, amount of which may be different from the amount of tax reduction a taxpayer would have got had he / she not elected for personal assessment. The actual amount will be assessed case by case.
Besides, the 2025 Policy Address proposed to extend the claim period of additional child allowance for newborns from one year to two years. This measure and the above Budget proposals will be effective starting from the year of assessment 2026/27.
Before the proposal is passed by the Legislative Council, the Inland Revenue Department will continue to charge stamp duty at the prevailing rate of 4.25% for residential property transactions concerned. Once the bill is passed by the Legislative Council and the amendment ordinance comes into effect upon gazettal, the purchasers or vendors concerned have to pay the difference of the stamp duty within 30 days.
(4) Relaxing the criteria for stamp duty relief in respect of intra-group transfer of assets
The criteria for stamp duty relief in respect of intra-group transfer of assets under section 45 of the Stamp Duty Ordinance (Cap. 117) will be relaxed to expand the scope of eligible associated body corporates. The proposal applies to instruments for sale and purchase or transfer of assets executed on or after February 25, 2026.
The measures above will be effected after the relevant ordinances have been amended. Details of the measures and examples of tax calculations are available on the website of the Inland Revenue DepartmentIssued at HKT 23:11
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Source: Hong Kong Government special administrative region
Note 8: The Fire Safety (Industrial Buildings) Ordinance came into effect on June 19, 2020. The FSD has been prioritising the issuance of Fire Safety Directions to target IBs based on a “risk-based” principle. Owners may apply for an extension of the deadline for compliance with the Directions according to the actual work progress and difficulties encountered. On the aforesaid premise, there was no case meeting the prosecution threshold in 2023.
(4) The BD will continue to strengthen enforcement actions against illegal domestic use in IBs through LSOs and by acting on public reports. The DEVB is currently reviewing the BO, and will propose, amongst others, to tighten up enforcement against relevant situations, increase penalties for non-compliance with statutory orders, and introduce a new offence to empower the Building Authority to directly prosecute cases of illegal domestic use in IBs upon discovery, thereby enhancing deterrence. The target is to introduce the amendment bill to the Legislative Council for scrutiny in the second half of this year.
The FSD attaches great importance to the fire safety of IBs. In addition to promptly attending the scene to investigate and follow up on receipt of reports and intelligence, it also proactively conducts regular inspections and takes resolute enforcement actions against irregularities. Taking fire hazards as an example, the FSD in general issues Fire Hazard Abatement Notices, requiring rectification within a specified period. Failure to comply with the deadline will result in prosecution. For serious cases (such as obstructed or locked means of escape), prosecution may be instituted directly. In 2025, the FSD conducted a total of approximately 9 300 inspections of IBs, issued around 1 300 Fire Hazard Abatement Notices, and instituted 333 prosecutions.
Apart from the regular inspection programme, the FSD conducts surprise and targeted inspections and enforcement actions based on a risk-based principle, taking into account the use of buildings, past records of non-compliance, complaints, intelligence, and more. Joint operations with other departments are also undertaken as necessary. For instance, the FSD and the BD conducted a joint inspection and enforcement operation targeting IBs from December 29 to 31, 2025, inspecting nine IBs located in Kowloon and the New Territories. During the operation, fire personnel took immediate enforcement action against the persons-in-charge of the buildings concerned for irregularities, including issuing 22 Fire Hazard Abatement Notices and instituting three prosecutions directly. The BD identified 13 subdivided units suspected of being used illegally for domestic purposes, and further investigations are underway. If it is confirmed that the units in question have been used for illegal domestic purposes, the BD will take enforcement action under the BO, including ordering the cessation of illegal domestic use and rectification of the dangerous situations.
The FSD has made available convenient channels for reporting, including a 24-hour complaint hotline at 2723 8787 and the Fire Hazard Electronic Complaint Portal, encouraging members of the public to provide specific clues such as locations, time, photos and short videos. In addition, the FSD has recently introduced the Building Emergency Responders Scheme which provides fire safety training to property management personnel, representatives of owners’ corporations and residents. The aim is to assist them in identifying potential fire hazards, participating in inspections, and reporting risks to the FSD or property management companies, thereby enhancing prevention and reporting effectiveness. As for the proposed “financial rewards for reporting”, the FSD currently has no plan to introduce such an initiative, given that monetary incentives may increase false reports and create moral hazards.
(5) For IBs with fragmented ownership and yet to have plan to undergo redevelopment or wholesale conversion, under the premise of not compromising public safety and provided that the uses are the uses always permitted for the site as specified in the Outline Zoning Plan, the prevailing policy allows the owner to use individual units of the IBs for “Art Studio”, “Office (Design and Media Production)”, “Office (Audio-visual Recording Studio)”, “Office (used by “specific creative industries” including design and media production companies, printing and publishing, film companies and industry organisations related to the film industry)”, as well as “Research, Design and Development Centre”, without having to apply for a short-term waiver from the LandsD and pay any fees. Since the owners do not need to apply for a short-term waiver for using the individual units of the IBs for the aforesaid specific non-industrial uses, the Government does not have statistics on the individual units of the IBs used for the aforesaid specific non-industrial uses.
(6) The Government reactivated the Revitalisation Scheme in 2018. In respect of redevelopment of IBs, the prevailing policy allows relaxation of the maximum permitted non-domestic plot ratio up to 20 per cent to provide incentives to private owners to redevelop IBs constructed before 1987. In the past three years (from February 2023 to end-January 2026), excluding the application withdrawn by applicant, the TPB received a total of seven applications (involving seven sites) for relaxation of plot ratio for redevelopment of IBs, among which all applications were approved. Among the seven approved planning applications, three of them have applications made to the LandsD for lease modification, among which one case was withdrawn by the applicant and the remaining two cases are under processing (one of the applications is currently under land premium assessment). As for the remaining four cases among the aforesaid seven approved planning applications, the LandsD has yet to receive relevant application for lease modification. In addition, there were six cases in which lease modification and redevelopment works have been completed in the same period, all of them are for non-residential uses. For wholesale conversion of IBs aged 15 years or above in zones such as “Commercial” or “Industrial” zones, waiver fees could be exempted. If the concerned IB was constructed in or after 1987, not less than 10 per cent of the converted floor space must be used for purposes designated by the Government, such uses include arts and culture or innovation and technology. In the past three years (from February 2023 to end-January 2026), the LandsD did not receive any application for wholesale conversion of IBs. In the same period, there were two cases in which conversion works have been completed, and the permitted non-industrial uses include commercial, offices, retail and food and beverage facilities.
(7) For IBs with fragmented ownership and yet to have plan to undergo redevelopment or wholesale conversion, considering that the other units could still be used for industrial purposes and in view of public safety, the five non-industrial uses mentioned in part (5) above for which individual units of the IBs are allowed to be used, do not include any uses or activities that directly provide services or goods to attract public visits (including public performance and exhibition). The consideration is primarily based on the fact that such members of the public (regardless of their number) may only visit the concerned IB occasionally and are unfamiliar with its layout, including the escape routes. As mentioned above, the DEVB is conducting a new round of Study on the Review of Existing Industrial Stock with the PlanD and the LandsD, and will consider the views from the Member and the market when putting forward recommendations this year, including the way forward for the Revitalisation Scheme.
Source: Hong Kong Government special administrative region
Sydney ETO hosts Chinese New Year reception in Auckland to celebrate Year of Horse
About 150 guests from various sectors, including political and business circles, media, academia, community groups and government representatives, attended the reception. Among them were the Consul General of the People’s Republic of China in Auckland, Mr Chen Shijie; the Minister for Arts, Culture and Heritage, Minister of Justice, Minister for Media and Communications and Minister for Treaty of Waitangi Negotiations of New Zealand, Mr Paul Goldsmith
“Hong Kong remains an important market for New Zealand’s premium products, including dairy, meat, seafood, and wine,” Mr Chong said.
Mr Chong also introduced the “Study in Hong Kong” brand, under which Hong Kong is positioned as an international post-secondary education hub. He welcomed students, researchers and young talent from New Zealand to pursue study and collaboration opportunities in Hong Kong.
The Sydney ETO will continue to host Chinese New Year receptions in different cities in Australia to celebrate the Year of the Horse with local communities.
Issued at HKT 7:30
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Source: Hong Kong Government special administrative region – 4
Police are investigating the death of a police officer in Kwun Tong Police Station this morning (February 25).
At around 7.45am, Police found a 23-year-old female police officer, who was attached to the Patrol Sub-unit of Kwun Tong District, injured at the loading and unloading area in Kwun Tong Police Station. She had a gunshot wound to her head and was certified dead at scene. A service pistol was found next to the deceased.
Upon initial investigation, it is believed that she committed suicide with her service pistol.
Post-mortem examinations will be conducted later to ascertain the cause of death of the deceased.
Investigation by Regional Crime Unit of Kowloon East is underway.
Police express sorrow and regret over the death of the police officer and extend sympathies to her family members to whom timely assistance will be offered.
Source: Hong Kong Government special administrative region – 4
Sustaining Momentum and Accelerating Economic Development
28. Hong Kong’s economy has grown for three consecutive years, with overall sentiment steadily turning positive. Mega events are drawing visitors to Hong Kong, and international conferences have brought together global political and business leaders, fostering deeper exchanges and collaboration:
(a) More buoyant asset markets: The stock market has shown encouraging momentum, with total market capitalisation rising to $50 trillion. IPO activities were also vibrant. Sentiment in the residential property market has turned positive. Total bank deposits exceeded $19 trillion as at the end of last year, increasing by 12 per cent year-on-year, with capital continuing to flow in. The asset management sector is also faring well, with net fund inflow of $357 billion to funds domiciled in Hong Kong. Hong Kong ranked third globally and first in the Asia Pacific in the Global Financial Centres Index. Hong Kong is expected to become the world’s largest cross-boundary wealth management centre in one to two years.
(b) Accelerated convergence of enterprises and talents: The Office for Attracting Strategic Enterprises (OASES) has attracted over 100 strategic enterprises to establish in Hong Kong. Among them, 51 have been listed, and 76 set up their global or regional headquarters in Hong Kong, bringing in about $60 billion of investment and creating around 22 000 jobs. Invest Hong Kong assisted 560 enterprises in establishing or expanding their operations in Hong Kong last year, which is expected to generate about $70 billion of investment and create over 10 000 jobs. The number of companies in Hong Kong with Mainland or overseas parent companies and the number of start-ups in Hong Kong both rose by 11 per cent, hitting new highs. As regards talent attraction, the Top Talent Pass Scheme has drawn over 100 000 global elites to Hong Kong. We will continue to proactively attract investments and talents, injecting fresh impetus into Hong Kong’s economy;
(c) Strengthening international connections: The establishment of the International Organization for Mediation in Hong Kong has further strengthened our status as the centre for international legal and dispute resolution services in the Asia-Pacific region. International conferences and exhibitions such as the Belt and Road Summit, Asian Financial Forum, Hong Kong FinTech Week, Hong Kong Maritime Week and InnoEx each drew thousands of global political, business and industry leaders. This year, we will sustain our efforts in deepening international connections, for instance, the Asia-Pacific Economic Cooperation Finance Ministers’ Meeting will be held in Hong Kong for the first time;
(d) Soaring visitor arrivals drawn by mega events: Visitor arrivals approached 50 million last year, increasing year-on-year by 12 per cent, with non-Mainland visitors recording a growth of 15 per cent. Hong Kong boasts an extensive line-up of mega events. The National Games as well as the National Games for Persons with Disabilities and the National Special Olympic Games, which we co-hosted with Guangdong and Macao last year, enhanced Hong Kong’s capability to organise large-scale sports events and deepened integration and collaboration among GBA cities. Less than a year after its commissioning, Kai Tak Sports Park has achieved the highest ticket sales in Asia and ranked third globally for its main stadium, registering the highest gross income of any stadium in Asia. In the coming year, mega cultural and sports events will follow one after another, showcasing Hong Kong’s unique glamour; and
(e) Accelerating the development of the NM: Being a new engine for long-term development, the NM will inject fresh economic impetus into Hong Kong and support our new “South-North dual engine (finance-I&T)” industry pattern. We are accelerating its development through various measures, including adopting a large-scale land-disposal approach in land allocation and expediting the bringing in of enterprises and industries, as well as establishing two dedicated companies for San Tin Technopole and Hung Shui Kiu Industry Park respectively. We plan to introduce a dedicated legislation for the NM in the middle of this year.
Proactively Aligning with the 15th Five-Year Plan
29. The Recommendations for Formulating the 15th Five-Year Plan (The Recommendations) delineate the overall approach, strategic goals and major initiatives for our country’s development in the next five years. It is a strategic blueprint for setting out the direction of the full implementation of Chinese modernisation.
30. The Recommendations also give explicit support to Hong Kong in better integrating into and serving the overall national development, consolidating and enhancing its status as an international financial, shipping and trade centre, while developing into an international I&T centre and an international hub for high-calibre talents. Hong Kong can contribute in various key areas:
(a) Contributing to building a modernised industrial system and accelerating high-level scientific and technological self-reliance of our country: With strong basic research capabilities, Hong Kong possesses unique edge in AI, life and health technology, fintech, as well as new materials and new energy. Being an international financial centre, Hong Kong will drive “Finance+”, capitalising on our financial sector to better serve the real economy and industries with competitive edge, and pressing ahead towards mutual empowerment of finance and I&T. In so doing, we can leverage our strengths to serve the country’s needs;
(b) Proactively participating in our country’s development in promoting high-standard opening up: Hong Kong possesses unique institutional strength under “one country, two systems”. With our efficient aviation, shipping and logistics services, we serve as a “super connector” and “super value-adder” to help enterprises go global and bring in external investments, fostering two-way trade and investment; and
(c) Bringing together high-calibre talents from across the globe: Hong Kong’s world-class universities and internationalised environment are conducive to attracting and bringing in top global talents in various sectors, particularly leading experts in the scientific research field from around the world. We will keep nurturing local talents, aligning with the integrated development of “Education, Technology and Talent” of our country.
31. The Chief Executive will lead a cross-bureau, cross-departmental task force for Hong Kong to proactively align with the 15th Five-Year Plan, and for the first time, to formulate Hong Kong’s five-year plan. We will integrate more actively into and serve the overall national development. With the synergy between a capable government and an efficient market, we aim at driving high-quality, high value-added and diversified economic growth.
International Innovation and Technology Hub
32. Technology changes are reshaping the global economic landscape and generating new consumption demand and investments, while fostering the integration of industries across boundaries. Technological innovation is driving industrial innovation profoundly.
33. Hong Kong’s strengths in innovative scientific research and commercialisation of research outcomes lie in our internationalised qualities, strong research capabilities, support of financial sector and a rich pool of high-calibre talents. We are stepping up support measures such as computing power, land and capital, together with GBA cities’ well-developed advanced manufacturing, to enhance our influence as a global source of original innovation.
Artificial Intelligence + (AI+)
34. We are pressing ahead with the industrialisation of AI and deepening its integration across various industries, while encouraging wider AI application, thereby achieving the target of adoption and utilisation by all.
Committee on AI+ and Industry Development Strategy
35. The application of AI technology is swiftly driving the process of industrial transformation. New technologies, new industries and new products are quickly emerging. I will establish and chair the Committee on AI+ and Industry Development Strategy to formulate strategies and create favourable conditions for AI to empower the transformation and development of industries. The committee will comprise experts, academics, enterprises and industry park companies with an initial focus on life and health technology and embodied AI.
Empower Industries through AI
36. In respect of basic research and development (R&D), the InnoHK Research Cluster has so far funded 16 laboratories specialising in AI and robotics technologies. Their research focuses on technologies like AI-driven robotics which could widely apply to industries such as healthcare, logistics, smart manufacturing and construction.
37. The $3 billion AI Subsidy Scheme launched by the Government has approved around 30 R&D applications in the fields of large language models, new materials and biomedicine, etc., to enhance local AI research standards and application.
38. We are making proactive efforts to align with the National AI+ Initiative by promoting “industries for AI” and “AI for industries” through application. The Hong Kong Artificial Intelligence Research and Development Institute Company Limited will come into operation in the second half of this year. The company aims to promote AI+ development and transformation of R&D outcomes. It will also advise on matters such as the governance framework and regulatory regime for AI development.
39. The Hong Kong Monetary Authority (HKMA) and Cyberport have recently commenced trials for the second cohort of sandbox, focusing on “AI vs. AI” strategies for promoting secure and responsible AI application in the banking sector.
Computing Infrastructure
40. Hong Kong’s overall computing power has now reached 5 000 petaFLOPS, laying an important foundation for supporting AI development.
41. The data facility cluster at Sandy Ridge, which can provide a gross floor area of 250 000 square metres, will further enhance Hong Kong’s overall computing power. The tender result of the site will be announced shortly. The cluster will render crucial support for data and computing power required by the use of AI.
AI Training for All
42. AI brings new opportunities to society and employment market. The key is to popularise the understanding and use of AI by all levels of society.
43. We will invite public organisations to organise, in collaboration with technology enterprises and tertiary institutions, AI application courses, seminars and competitions targeting students, young people and members of the public for enhancing their AI awareness and application skills, and to be responsible AI users. We will allocate $50 million to take forward this initiative.
44. In the 2025/26 to 2027/28 triennium, the University Grants Committee (UGC)-funded universities will introduce a total of 27 undergraduate programmes related to STEAM, including AI, creative industries, data science, etc. As regards self-financing post-secondary institutions, AI-related programmes will be given priority to be included in the Study Subsidy Scheme for Designated Professions/Sectors starting from 2027/28 academic year. Meanwhile, the Vocational Training Council (VTC) also includes AI application in the compulsory modules on Information Technology for all of its Higher Diploma programmes.
45. The Employees Retraining Board (ERB) will be upgraded as Upskill Hong Kong, providing various types of skill-based training courses, including AI application, thereby enhancing the competitiveness of the local workforce.
46. The Quality Education Fund has earmarked $2 billion to take forward digital education in primary and secondary schools by offering school-based AI education programmes and subsidising students to participate in related activities. We also provide AI training for teachers.
Data Utilisation
47. To further enhance the utilisation of data within the Government, we will allocate additional resources to the Census and Statistics Department (C&SD) to expand its consulting and analysis services on data science for bureaux and departments, with a view to identifying pain points in operations and proposing corresponding solutions.
48. The C&SD will launch a new online platform for interactive data dissemination service next month. Through integrating different types of statistical data, this platform enables enterprises and the public to conduct cross-subject analysis. A natural language data query feature will be introduced into the platform in the third quarter.
Empower Public Services through AI
49. Various departments are proactively leveraging AI and related technologies to promote digital intelligence for enhancing the standard of public services. For example:
(a) Traffic management: The Transport Department will explore the setting up of a traffic management platform integrating the use of big data analytics and AI, allowing comprehensive monitoring of real-time traffic conditions and enhancing management efficiency;
(b) Employment services: To provide better services for job seekers and employers, the Labour Department will utilise AI to optimise job matching;
(c) Flood alert: The Drainage Services Department (DSD) will enhance its smart flood forecast and alert system. Besides, the DSD has developed an AI large vision-language model to analyse the images captured by street cameras, thereby speeding up emergency response; and
(d) Landslide risk assessment: To enhance the Landslip Warning system, the Civil Engineering and Development Department will consolidate Hong Kong’s rainfall data, landslide records and man-made slope data this year for conducting real-time and dynamic landslide risk assessment.
50. The Government has set up the AI Efficacy Enhancement Team to co-ordinate and steer government departments to apply AI, conduct process re-engineering and enhance efficiency. We will allocate $100 million for introducing leading technologies from the industry so as to accelerate digital intelligence transformation of the Government.
51. The Civil Service College will collaborate with the Digital Policy Office to provide AI training for civil servants to better grasp the relevant knowledge.
(To be continued.)
Source: Hong Kong Government special administrative region – 4
Following is a question by the Hon Chan Hoi-yan and a written reply by the Secretary for Transport and Logistics, Ms Mable Chan, in the Legislative Council today (February 25):
Question:
Currently, both conventional and spiral roundabouts can be found on Hong Kong’s roads. There are views that these two types of roundabouts differ significantly in terms of road markings, right-of-way priority and other arrangements, which could lead to disputes or even traffic accidents. Furthermore, the Transport Department (TD) launched a pilot scheme on spiral roundabouts in 2004. More than 20 years have now passed, yet no comprehensive evaluation report on the scheme’s effectiveness has been made public. In this connection, will the Government inform this Council:
(1) of the current number of roundabouts across the territory, with a breakdown by type of roundabout (e.g. conventional, spiral and other types such as hybrid lane-guidance designs);
(2) of the number of traffic accidents that have occurred at roundabouts in each of the past 10 years, with a breakdown by type of roundabout;
(3) as it has been reported that the Government has introduced spiral roundabouts progressively in various districts in recent years, on what criteria or justifications the TD has based its decision to convert conventional roundabouts into spiral roundabouts at specific road sections;
(4) of the following information in respect of each roundabout across the territory that has been converted from conventional to spiral: (i) the year of conversion, (ii) its location, (iii) the number of traffic lanes, and (iv) the number of accidents that occurred in the past year, together with a comparison of that figure with the number of accidents in the year prior to its conversion;
(5) of the results of the Government’s effectiveness evaluation concerning the specific operation of spiral roundabouts;
(6) whether the TD has plans to comprehensively standardise the usage and right-of-way priority arrangements for roundabouts, with a view to reducing road disputes and the risk of traffic accidents; if so, of the details; if not, the reasons for that; and
(7) whether it has plans to reduce the risk of traffic accidents at roundabouts through other feasible measures, such as reducing the number of lanes at large roundabouts or systematically installing real-time adaptive traffic signal systems at those with heavy traffic flows?
Reply:
President,
Roundabout is a common design of road intersection in Hong Kong. Generally speaking, roundabouts enable smooth passage of vehicles from various directions under varying traffic volumes. My response to the question raised by the Hon Chan Hoi-yan is as follows:
(1), (2) and (4) There are currently about 260 conventional roundabouts in Hong Kong (comprising approximately 175 small roundabouts and around 85 two- or three-lane roundabouts) as well as 27 spiral roundabouts on public roads. The number of traffic accidents that have occurred at two- or three-lane conventional roundabouts and spiral roundabouts over the past decade is provided in Appendix 1. Spiral roundabouts are generally two-lane roundabouts. Appendix 2 sets out details of all spiral roundabouts in Hong Kong, including the year of conversion, location, number of accidents in the year prior to conversion, and the number of accidents in 2025. As traffic conditions and the road environment vary by location and over time, it is not appropriate to directly compare accident figures across different roundabouts.
(3) and (5) Between 2004 and 2017, the Transport Department (TD) implemented a phased trial scheme involving 10 conventional roundabouts converted into spiral roundabouts. The scheme concluded in 2017, with findings showing that both spiral and conventional roundabouts have distinct advantages in terms of operation and traffic safety, serving different functional purposes. When designing individual roundabouts, the TD selects the most appropriate configuration based on factors such as the size of the roundabout, the number of traffic lanes and entry/exit points, and overall traffic volume. In specific traffic contexts, such as uneven distribution between inner and outer circulatory lanes or a high proportion of right-turning movements requiring adjustments, the road marking system of spiral roundabouts can guide drivers in the inner lane to exit more easily. This, in turn, improves the utilisation of the inner circulatory lane and enhances overall traffic efficiency.
(6) and (7) The TD continuously monitors and analyses traffic accident data at roundabouts, and formulates and implements road improvement measures as needed, such as optimising road markings, signage and driver visibility. At roundabouts with high vehicle volumes, the TD also considers introducing dedicated lane for left-turn movements or implementing other enhancements, such as installing traffic signals, to improve traffic flow and reduce collision risks.
The installation of the Real-time Adaptive Traffic Signal System (RTATSS) at signalised roundabouts involves greater technical complexity than at conventional signalised junctions. This is because the system must simultaneously detect and process traffic circulating within the roundabout as well as traffic waiting to enter from each approach lane. The TD is currently implementing RTATSS at conventional signalised junctions (i.e. those not designed as roundabouts), and the data collected will support future reviews on the feasibility of extending the system to signalised roundabouts.
Moreover, the TD will continue to collaborate with the Road Safety Council and the Hong Kong Police Force in carrying out various publicity and educational campaigns to promote road safety. These initiatives include disseminating information on the safe use of roundabouts through various channels, such as social media platforms.
Source: Hong Kong Government special administrative region – 4
Following is the full text of the Speech on the 2026-27 Budget delivered by the Financial Secretary, Mr Paul Chan, to the Legislative Council today (February 25):
President, Honourable Members and fellow citizens,
I move that the Appropriation Bill 2026 be read a second time.
Introduction
2. Today is the ninth day of the Chinese New Year, and the city is still brimming with festive spirits. The bustling New Year fairs, the buzzing Night Parade and the dazzling fireworks display above Victoria Harbour have echoed the vigour and vitality symbolised by the Year of the Horse.
3. Over the past year, as a result of the booming economy and capital market, our tax revenue has increased. Coupled with the reinforced fiscal consolidation programme gradually bearing fruit, our public finances have improved sooner than expected. The Operating Account has returned to a surplus this financial year. After taking into account the proceeds from bond issuance, the Consolidated Account has also returned to balance ahead of schedule. All these have enabled us to suitably reinforce support for the people and small and medium enterprises (SMEs) within our means.
4. This year marks the beginning of the National 15th Five Year Plan. The stable and high-quality development of our country is always our strongest backing. Our country’s sustained high-standard two-way opening-up, coupled with scientific and technological innovation, have presented us with new opportunities. We must embrace the 15th Five-Year Plan with an innovative mindset, fostering new quality productive forces in accordance with local conditions. Leveraging our edge of having close connectivity with the Mainland and the world, and with a large pool of talents, we will facilitate enterprises in opening up new markets. We expect Hong Kong’s economy to sustain good momentum this year.
5. The theme of this Budget is: “Driving High-quality, Inclusive Growth with Innovation and Finance”. I will elaborate on this a little later.
Economic Situation in 2025
6. The global political and economic landscape is fraught with complication and volatility. The United States (US) waged a tariff war early last year, precipitating a sharp escalation in global trade tensions. As the US reached preliminary trade agreements with various economies and achieved consensus with China on key economic and trade matters, trade frictions eased, allowing the global economy to continue expanding.
7. Technological transformation and the rapid development of artificial intelligence (AI) have spurred a fresh wave of investment enthusiasm and driven product demand. Asia, especially China, serves as an important engine propelling global economic growth. Furthermore, the resumption of interest rate cuts by the US since September last year has bolstered performance of the investment and capital markets. The International Monetary Fund (IMF) projects global economic growth of 3.3 per cent for 2025, which is broadly in line with that of 2024.
8. Hong Kong’s economy was buoyant last year. External trade remained strong, private consumption rebounded, and fixed investment accelerated. The overall economy grew by 3.5 per cent in the year, marking the third consecutive year of expansion.
9. Boosted by robust demand for electronic-related products, total exports of goods from Hong Kong grew by 12 per cent in real terms, with particularly notable increases in exports to the Chinese Mainland and the Association of Southeast Asian Nations (ASEAN).
10. Exports of services rose by 6.3 per cent. Visitor arrivals surged by 12 per cent, while cross-boundary financial services and traffic saw sustained growth.
11. On domestic demand, private consumption expenditure rose by 1.7 per cent for the year, reversing the downward trend from the second quarter of 2025. Amid continuing economic expansion and a recovering residential property market, growth in overall investment expenditure accelerated to 4.3 per cent.
12. The labour market gradually stabilised in the latter half of the year. The seasonally adjusted unemployment rate stood at 3.8 per cent in the fourth quarter. Employment earnings showed sustained growth, with the median monthly employment earnings of full time employees increasing by 4.2 per cent year-on-year in the fourth quarter.
13. Inflation remained mild. Netting out the effects of the Government’s one-off measures, the underlying inflation rate was 1.1 per cent last year.
14. The stock market delivered a stellar performance. The Hang Seng Index rose by 28 per cent over the year. The daily turnover surged by 90 per cent to a historic high of close to $250 billion. Capital raised through initial public offerings (IPOs) exceeded 2024 by more than two times to over $280 billion, ranking first globally.
15. The residential property market saw increases in both prices and transaction volumes. Market activities have been active since last March, with total transactions reaching a four year high of nearly 63 000 for the year. Property prices rose by 3.3 per cent for the year, ending a three-year decline, while rental prices rose by 4.3 per cent in the year. Transaction volume for non-residential properties rebounded, while the declines in rentals and prices narrowed.
Economic Outlook for 2026 and the Medium Term
16. Entering 2026, global trade tensions have moderated, and economic activities continued to expand in major economies. The Chinese Mainland will be the leading contributor to global economic growth, serving as the key driver for both regional and global economic momentum. The steadfast development of our country will continue providing firm support for Hong Kong.
17. Our country will implement more proactive macro policies this year, expanding domestic demand, and steadfastly advancing high-quality development, while maintaining reasonable economic growth. This will lay a strong foundation for the 15th Five Year Plan period, and generate propitious conditions for Hong Kong’s economic growth.
18. Driven by investments in AI and other new technologies, the demand for related products continues to underpin the trade expansion in Asia. Market expectations of further interest rate cuts in the US would bolster investor confidence. The IMF forecasts moderate growth for the global economy this year.
19. Benefitting from these factors, Hong Kong’s exports of goods should sustain decent growth. Exports of services will also continue to increase, driven by increasing visitor arrivals and demand for financial services.
20. Domestic demand will grow steadily. A stable labour market and rising household incomes will drive private consumption, while improvement in business sentiment, coupled with expectations of interest rate cuts, will boost asset markets and investments.
21. Nevertheless, the international environment remains complex and intricate. With the major advanced economies still frequently shifting their trade and economic policies, uncertainties will continue to loom over global trade. A slower-than-expected pace of US rate cuts could hamper the optimism currently underpinning the global financial market.
22. Based on our assessment of the current global and local economic situations, we forecast that Hong Kong’s economy will grow by 2.5 per cent to 3.5 per cent this year.
23. As for prices, external price pressures are in check. With the local economy continuing to expand, inflation this year is expected to be moderately higher than last year. We forecast the underlying inflation rate and the headline inflation rate this year to be 1.7 per cent and 1.8 per cent respectively.
24. In the medium term, protectionism will persist in some major economies, while fragmentation of the global economy will continue. Nevertheless, the rise of the “Global South” and the reshaping of the global trade and investment landscape will unlock new markets and new growth areas for Hong Kong.
25. This year marks the beginning of the 15th Five-Year Plan. Hong Kong will proactively align with the 15th Five-Year Plan, better integrate and serve the overall national development, and continue to proactively participate in development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
26. The current-term Government is committed to expanding economic capacity and enhancing competitiveness, expediting the development of the Northern Metropolis (NM), driving growth through talents and innovation and technology (I&T) and developing new quality productive forces tailored to local circumstances for promoting high-quality economic development.
27. We forecast that Hong Kong’s economy will grow on average by three per cent per annum in real terms from 2027 to 2030, with the underlying inflation rate averaging two per cent a year.
(To be continued.)